In normal outdoor activities, such as camping, fishing, hunting or the like, it is desirable to have different tools available for different purposes. Two of the more commonly used tools in such activities are a hatchet and a knife. There have been suggestions in the prior art to combine these tools into a single unit. This is disclosed in Rieffer (U.S. Pat. No. 3,627,007); Shultz (U.S. Pat. No. 2,721,340) and Williamson (U.S. Pat. No. 2,280,463). However, in these prior art references, either the knife cannot be removed completely from the hatchet or the handle of the hatchet is shortened when the knife is completely removed. Eslick (U.S. Pat. No. 1,028,008) discloses a knife mounted in a handle of a hatchet so that the knife may be completely removed from the handle, but Eslick requires a sheath for the knife which sheath is not removed from the handle.